XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Statements of Consolidated Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
REVENUES:        
Revenues, other than interest on funds held for clients and PEO revenues $ 2,319.8 $ 2,190.3 $ 4,537.8 $ 4,269.2
Interest on funds held for clients 129.1 106.7 247.6 206.1
PEO revenues (A) [1] 1,057.0 941.3 2,043.7 1,840.2
TOTAL REVENUES 3,505.9 3,238.3 6,829.1 6,315.5
Costs of revenues:        
Operating expenses 1,785.9 1,709.2 3,495.9 3,339.9
Systems development and programming costs 156.1 159.4 314.1 317.6
Depreciation and amortization 71.7 69.3 144.3 131.9
TOTAL COSTS OF REVENUES 2,013.7 1,937.9 3,954.3 3,789.4
Selling, general, and administrative expenses 745.2 723.6 1,459.0 1,399.0
Interest expense 38.6 27.5 74.5 55.5
TOTAL EXPENSES 2,797.5 2,689.0 5,487.8 5,243.9
Other income, net (32.6) (38.2) (46.5) (80.8)
EARNINGS BEFORE INCOME TAXES 741.0 587.5 1,387.8 1,152.4
Provision / (benefit) for income taxes 182.8 (82.9) 324.2 69.4
NET EARNINGS $ 558.2 $ 670.4 $ 1,063.6 $ 1,083.0
BASIC EARNINGS PER SHARE (in US$ per share) $ 1.28 $ 1.52 $ 2.44 $ 2.45
DILUTED EARNINGS PER SHARE (in US$ per share) $ 1.27 $ 1.51 $ 2.42 $ 2.44
Basic weighted average shares outstanding (shares) 435.7 441.3 436.2 441.8
Diluted weighted average shares outstanding (shares) 438.0 443.7 438.9 444.4
Direct Pass Through Costs P E O Revenues $ 11,751.1 $ 10,632.3 $ 21,380.5 $ 19,370.8
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $11,751.1 million and $10,632.3 million for the three months ended December 31, 2018 and 2017, respectively, and $21,380.5 million and $19,370.8 million for the six months ended December 31, 2018 and 2017, respectively.